Adidas invests in Finnish sustainable fibre firm Spinnova | Reuters

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Spinnova Finland Innovative Textile Fibre

German sportswear firm Adidas (ADSGn.DE), which is seeking to increase the proportion of sustainable materials it uses in its products, is investing in Finland’s Spinnova, a company that makes textile fibre out of wood or agricultural waste.

Adidas has agreed to subscribe for 3 million euros ($3.65 million) worth of shares in the company’s planned initial public offering, bringing the total investment it has secured to 58 million euros, Spinnova said in a statement.

“We are an ideal match with the ambitious and pioneering Adidas sustainability strategy,” Spinnova CEO and co-founder Janne Poranen said.

Spinnova is building its first commercial factory in Finland with strategic partner and wood raw material supplier Suzano, and is also building a pilot facility for fibre production out of leather waste.
— Read on www.reuters.com/business/sustainable-business/adidas-invests-finnish-textile-recycling-firm-spinnova-2021-06-10/


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By MSc(Econ) Lassi Pensikkala - International Travel and Business Expert

Lassi Pensikkala is the creator of AmerExperience.com. He writes regularly providing thought leadership on topics related to Travel, Golf, Business, Health, and Lifestyle. You can follow him on Twitter @amerexperience or connect on Linkedin. You can read his business and travel magazines on Flipboard @amerexperience Born: April 30, 1959 in Piikkiö Finland Spouse: Germania Elizabeth Romo Pensikkala Children: Inga and Ana Sofia Parents: Torsti and Hillevi Pensikkala Expertise: International Travel And Business Expert Creator of AmerExperience.com - Education: Studied International Business in Business School of Turku Finland, and Economy, Psychology and Sociology at the University of Hamburg graduated as MSc(Econ) - Language skills: Multilingual - English, German, Spanish, Swedish and Finnish - Life philosophy: 1959 and the 60’s were the golden times of Rock’n Roll, student movements, and first flight to moon. The nordic people were free to travel in the Scandinavian countries including Finland. No passports or travel documents were needed. The freedom still today is the most important for the Scandinavians from that epoch. Freedom is to travel, learn to know new countries and other languages, and meet different people and cultures. He wishes the new generations would have the same possibilities experiencing all that what makes you feel free, and building a strong personality. -